McDonald’s site is for sale
Photo: HM Handelsgruppe
There are two vacant properties for sale on Harvey Avenue.
The former McDonald’s restaurant and Husky gas station on the opposite corners of Harvey and Water Streets opened this morning.
Strategic Land Development Manager Graham Hood says the lots will be listed at the same time to provide the ability to design and develop the sites at the same time.
The total price is $ 11.275 million, $ 5.9 million for the McDonald’s site and $ 5.375 million for the Husky hotel. The city spent $ 2.05 million a year ago buying the McDonald’s property and settling legal claims.
“Selling these lots will add significant value to our community, both in terms of revenue generation for the city and the potential for groundbreaking future development in these key locations,” said Hood.
Hood says the development of the two properties is expected to “improve entrance to Kelowna and support the community’s vision of creating vibrant urban centers.”
The redevelopment of the McDonald’s property is not expected to take place until the redevelopment work on the site is completed sometime next year.
Hood says both locations will see a return on investment given current market conditions.
The proceeds from the sale will be added to the city’s land sales reserve, which will finance the purchase of the land for the benefit of the community.
The HM Commercial Group was hired as listing agent for the two properties.
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HM trading group
